Half of small business owners in New Jersey say the pending boost in the minimum wage to $15 will have “no impact” on them, according to a poll commissioned by the Rothman Institute of Innovation and Entrepreneurship at Fairleigh Dickinson University.
At the same time, the online poll also found that 45% of small business owners said the wage increase, approved by the state Legislature early this year, will negatively impact their bottom line. The law created a phased series of wage hikes, reaching $15 in 2024.
Similarly, 51% of small business owners said the state’s new law expanding family leave benefits for workers will have no impact on them, while 45% expected it to hurt their business. Four percent of the respondents said they expected it to help.
The survey comprised the online responses of 424 owners of businesses around New Jersey with no more than 50 employees. It was conducted by the FDU Poll from May to August of this year.